Mays Industries was established in 2010. Since its inception, the company has generated the following levels of taxable income (EBT): Year Taxable Income 2010 $50,000 2011 $40,000 2012 $30,000 2013 $20,000 2014 -$55,000 2015 $60,000 Assume that each year the company has faced a 40% income tax rate. Also, assume that the company has taken full advantage of the Tax Code's carry-back, carry-forward provisions, and assume that the current provisions were applicable in 2010. What is the company's tax liability for 2015?

a. $19,360

b. $24,640

c. $22,000

d. $24,860

e. $17,380